Argentine stocks rise on oil prices; peso firms

Reuters: [2008-05-16 23:52:00]

BUENOS AIRES, May 16 (Reuters) - Argentine stocks rose on Friday as rising global crude oil prices lifted energy-related shares, while bonds and the peso rose.

The benchmark MerVal index <.MERV> ended 0.7 percent higher at 2,137.01 points, finishing the week with a 1.07 percent gain.

"The MerVal got a lift from oil-related shares thanks to the rise in crude prices," said Guido Macchi, a trader at Julio Macchi brokerage.

Shares in index heavyweight and steelmaker Tenaris <TENA.BA> -- the world's leading producer of seamless steel tubes for the energy industry -- rose 2.05 percent to 96.95 pesos.

The local listing of Brazilian state-run energy Petrobras <APBR.BA> gained 2.05 percent to 115.5 pesos.

U.S. crude oil climbed to record peaks near $128 on Friday partially driven by news Goldman Sachs, the most active investment bank in energy markets, predicted oil prices will average $141 a barrel in the second half this year due to thin inventories.

Banking shares that had fallen on the MerVal in recent days continued to sag due to a continued farmers strike in Argentina that has fueled political uncertainty in recent weeks.

"Banking shares are reflecting they are the most affected by the tensions between the government and farmers, and until there is an agreement it will be difficult to clear away the uncertainty surrounding banks in the eyes of investors," Macchi said.

Farmers went on strike last week protesting a tax hike on grains exports, and extended the strike on Thursday.

The strike has caused market jitters in recent weeks, forcing the central bank to intervene heavily to prevent the peso currency from weakening amid increased dollar-buying by ordinary Argentines.

Volume on the broad market was relatively strong at $45.9 million. Among active shares, 32 rose, 32 declined and 21 were unchanged.

On the debt market <AR/BONOS>, bonds traded locally closed 0.5 percent higher on average as investors sought to take advantage of recent losses, also fueled by the farmers strike.

The central bank continued to sell dollars aggressively on the foreign exchange market, helping the peso to strengthen, traders said

In informal trade between foreign exchange houses, as measured by Reuters, the peso <ARSB=> closed at 3.235/3.2375 per dollar.

In formal interbank trade <ARS=RASL>, where the central bank intervenes to stabilize the currency, the peso gained 0.48 percent to 3.145/3.1475 per dollar. (Reporting by Walter Bianchi, Writing by Kevin Gray; Editing by Diane Craft) ((buenosaires.newsroom@reuters.com; +54 11 4510-2505; Reuters Messaging: kevin.gray.reuters.com@reuters.net))

Keywords: MARKETS ARGENTINA/

Czech Republic - Factors To Watch on May 16

Reuters: [2008-05-16 08:22:00]

    PRAGUE, May 16 (Reuters) - Here are news stories, press 
reports and events to watch which may affect Czech financial 
markets on Friday: 
    ALL TIMES GMT (Czech Republic: GMT + 1 hours) 
 
 ======================== ECONOMIC DATA ======================== 
    Real-time economic data releases....................<ECONCZ> 
    Previous stories on Czech data.............[CZ-RTRS-LEN-ECI] 
    Overview of economic data and forecasts..........<CZ/ECON15> 
    Updates on Czech currency.............................[CZK/] 
     
========================= EVENTS =============================== 
    PRAGUE - Minutes from the May 7 governing board meeting at 
0700 GMT. 
    Related news: [RTRS-LEN-CZ-CEN] 
     
    PRAGUE - April producer prices and March foreign trade price 
data at 0700 GMT. 
    Related news: [RTRS-LEN-CZ-ECI] 
     
======================= TOP NEWS =============================== 
    CZECH GDP GROWTH SLOWS - Two of emerging Europe's biggest 
economies -- Slovakia and the Czech Republic -- saw their rapid 
expansions slow in the first quarter, but laggard Hungary showed 
better than expected numbers in its slow march to recovery. 
    Story: [ID:nL15903221] Related news: [RTRS-LEN-CZ-ECI] 
           [ID:nL15896181] 
     
    CEZ BEATS FCAST: Net attributable profit at Czech power firm 
CEZ <CEZPsp.PR> rose 22.3 percent in the first quarter to 15.52 
billion crowns ($962.2 million), on higher output and prices, 
beating market expectations. 
    Story: [ID:nL15896254] Related news: [RTRS-LEN-CZ-ELG] 
     
    UNIPETROL DISAPPOINTS: Czech oil processor Unipetrol 
<UNPEsp.PR> disappointed the market as higher raw material 
prices hit first-quarter results, but confirmed its full-year 
profit guidance despite forecasting a tough market environment. 
    Story: [ID:nL15872502] Related news: [RTRS-LEN-CZ-ELG] 
     
    C/A DEFICIT SURPRISE: The Czech current account posted a 
0.57 billion crown ($35.34 million) deficit in March, against a 
8.3 billion surplus expected by the market, data released on 
Thursday showed. 
    Story: [ID:nL15778801] Related news: [RTRS-LEN-CZ-ECI] 
     
    AIRPORT PROFIT UP: Prague Airport's net profit jumped by 
14.4 percent to 1.1 billion crowns ($68.8 million) last year, 
fuelled by rising passenger traffic, the company said on 
Thursday. 
    Story: [ID:nL15329479] Related news: [RTRS-LEN-CZ-AIR] 
     
    SKODA WINS TENDER: Volkswagen AG's <VOWG.DE> Czech unit 
Skoda Auto won a tender on Thursday to deliver up to 3,500 cars 
for Czech police with a lowest bid of 1.1 billion crowns ($68 
million), police said. 
    Story: [ID:nL15809110] Related news: [RTRS-LEN-CZ-AUT] 
     
    TELEFONICA SELLS BUILDINGS: Telefonica 02 Czech Republic 
<SPTTsp.PR><TEF.MC> sold part of its real estate portfolio to 
Bohemia Real Estate Investments for more than 4 billion crowns 
($247.5 million), the company said on Thursday. 
    Story: [ID:nL15731517] Related news: [RTRS-LEN-CZ-TEL] 
     
    CEE INCOMES RISE: Rapid productivity growth has boosted 
incomes in eastern Europe and the former Soviet Union by more 
than 50 percent over the last decade, lifting about 50 million 
people out of poverty, the World Bank said on Thursday. 
    Story: [ID:nL15765361] Related news: [RTRS-LEN-CZ-ECI] 
 
==================== ELSEWHERE IN NEWS ========================= 
    T-BILL AUCTION: Czech 39-week Treasury bills <CZ130209T=> 
yield 4.04 pct in an auction on Thursday, up from 3.83 percent 
in the previous sale in January. 
    Story: [ID:nPRA001918] Related news: [RTRS-LEN-CZ-DBT] 
     
====================== PRESS DIGEST ============================ 
    GAS-FIRED PLANTS: CEZ Commercial Director Alan Svoboda sees 
maximum feasible output of gas-fired power plants in the Czech 
Republic at 1,500-2,000 megawatts. The power firm plans to build 
gas-fired plants with a combined output of 1,200 MW, he said. 
    E15, page 8 
     
    INTERNET MALL DEAL: Investment funds Intel Capital and 3TS 
Capital Partners bought a minority stake in Czech internet 
retail group Internet Mall for 28 million euros ($43.40 
million). 
    E15, page 11 
     
    CSOB PROFIT: Czech CSOB Bank, a unit of Belgium's KBC 
<KBC.BR>, posted a 3.7 percent rise in the first quarter net 
profit to 2.53 billion crowns. 
    Hospodarske Noviny page, 19 
  
    Reuters has not verified the media reports, nor does it 
vouch for their accuracy. 
  
 For Instant Views of key economic data click on    [CZ/INSTANT] 
 For summary of economic data and forecasts          <CZ/ECON01> 
 For diary of forthcoming Czech events                [CZ/DIARY] 
 For calendar of east European economic indicators  [CONV/DIARY] 
 TOP NEWS -- Emerging markets                         [TOP/EMRG] 
 TOP NEWS -- Convergence watch                        [TOP/EAST] 
 
 For an economic indicator diary for the euro zone, the United 
 States and other Group of Seven countries see         <G7TODAY> 
 
 For real-time stock market index quotes click in brackets: 
 Warsaw WIG20 <.WIG20>  Budapest BUX <.BUX>  Prague PX <.PX> 
 
    News editor of the day: Jan Lopatka on +420 224 190 477; 
fax: +420 224 229 935 
    E-mail: prague.newsroom@reuters.com 
 (Reporting by Martin Dokoupil) 
 ((martin.dokoupil@reuters.com; +420 224 190 477; Reuters 
Messaging: martin.dokoupil.reuters.com@reuters.net)) 
 ($1=16.12 Czech Crown) 
 ($1=.6452 Euro) 
  Keywords: CZECH FACTORS/ 
    

Italian Stocks - Factors to watch on May 16

Reuters: [2008-05-16 08:06:00]

    MILAN, May 16 (Reuters) - The following factors could affect 
Italian markets on Friday. 
    Reuters has not verified the newspaper reports, and cannot 
vouch for their accuracy. New items are marked with (*). 
     
  * FIAT <FIA.MI> 
    April new car sales in western Europe gained 9.5 percent, 
thanks to a statistical quirk, while those for the Fiat brand 
went up 7.9 percent, according to the latest figures from ACEA, 
an industry body. 
    For a full story, double click on [nWEB5509]. 
     
    BULGARI <BULG.MI> 
    Bulgari said net profit fell 4.6 percent in the first 
quarter due to higher costs and a sales slowdown, but the 
jeweller confirmed its outlook for the year as long as a tough 
economic climate does not worsen. 
    For a full story, double click on [nL15833385]. 
     
    PARMALAT <PLT.MI> 
    The U.S. trial began in the dairy company's case against 
Citigroup <C.N>. 
    For a full story, double click on [nN15291317]. 
     
    The company's shares fell sharply on Thursday on 
disappointment over its first-quarter results. 
     
    UNICREDIT <CRDI.MI> 
    Turkish bank Yapi Kredi, which UniCredit controls with Koc 
Holding <KCHOL.IS>, said it would launch a 920 million Turkish 
lira ($736 million) capital increase. 
    For more, double click on [YKBNK.IS-LEN-RTRS] 
     
    INTESA SANPAOLO <ISP.MI> 
    The bank said on Thursday it had launched a 1 billion euros 
subordinated Lower tier 2 eurobond targeted to international 
markets. 
    For a story, double click on [nMAT008210]. 
     
  * TELECOM ITALIA <TLIT.MI> 
    Bolivia said Telecom Italia had transferred some $90 million 
to foreign accounts from its subsidiary Entel, recently 
nationalized by the government. 
    Describing the transfer as a "reproachable" act, it said it  
would affect negotiations over compensation with the Italian 
telecommunications operator. 
    For a full story, double click on [nN15346368]. 
     
    TERNA <TRN.MI> 
    Moody's downgraded Terna to "A1" and cut its long-term 
unsecured issue and debt ratings to "AA3" from "A1" 
    For more details, double click on [nWNA0963]. 
     
    ITALCEMENTI <ITAI.MI> 
    Moody's changed the outlook on Italcement's "BAA1" rating to 
"negative". 
    For more details, double click on [nWNA0959]. 
     
    CREDITO EMILIANO <EMBI.MI> 
    The bank said it wanted to raise up to 500 million euros in 
a maximum five years through offering options and would seek 
shareholders' approval. 
     
    BANCO POPOLARE <BAPO.MI> 
    The bank turned in a 9.1 percent fall in net profit to 260 
million euros for the first quarter. 
    For a full story, double click on [nMAT008208]. 
     
    GAS PLUS <GSP.MI> 
    Italy's fourth-biggest gas company said it had suspended gas 
supply talks with Russia's Gazprom <GAZP.MM> but is still 
evaluating a deal. 
    For a full story, double click on [nL1584093]. 
     
    SORIN <SORN.MI> 
    The medical devices maker said in a statement late on 
Thursday it had obtained approval to market the CRT model of its 
OVATIO^OM family from U.S. regulators. The device helps 
physicians treat patients of heart failure. 
     
 ((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, 
milan.newsroom@news.reuters.com)) 
     
    For Italian market data and news, click on codes in 
brackets: 
    20 biggest gainers (in percentage)............<.PG.MI> 
    20 biggest losers (in percentage).............<.PL.MI> 
    Mibtel index.......... <.MIBTEL> 
    S&P/Mib index......... <.SPMIB> 
    Indice Mib-30......... <.MIB30> 
    Midex index........... <.MIDEX> 
    Allstars index........ <.ALLST> 
    Block trades.......... <.BLK.MI> 
    Stories on Italy...... <IT-LEN> 
     
    For pan-European market data and news, click on codes in 
 brackets: 
    European Equities speed guide...................<EUR/EQUITY> 
    FTSEurofirst 300 index..............................<.FTEU3> 
    DJ STOXX index......................................<.STOXX> 
    Top 10 STOXX sectors...........................<.PGL.STOXXS> 
    Top 10 EUROSTOXX sectors......................<.PGL.STOXXES> 
    Top 10 Eurofirst 300 sectors...................<.PGL.FTEU3S> 
    Top 25 European pct gainers.......................<.PG.PEUR> 
    Top 25 European pct losers........................<.PL.PEUR> 
     
    Main stock markets: 
    Dow Jones...............<.DJI>  Wall Street report .....[.N] 
    Nikkei 225.............<.N225>  Tokyo report............[.T] 
    FTSE 100...............<.FTSE>  London report...........[.L] 
    Xetra DAX.............<.GDAXI>  Frankfurt market stories[.F] 
    CAC-40.................<.FCHI>  Paris market stories...[.PA] 
    World Indices.....................................<0#.INDEX> 
    Reuters survey of world bourse outlook.........<EQUITYPOLL1> 
    Western European IPO diary..........................<WEUIPO> 
    European Asset Allocation........................[EUR/ASSET] 
    Reuters News at a Glance: Equities...............[TOP/EQE] 
    Main currency report:...............................[FRX/] 
 ($1=1.250 Turkish Lira) 
  Keywords: ITALY MARKETS/FACTORS 
    
    

Italian Stocks - Factors to watch on May 16

Reuters: [2008-05-16 07:11:00]

    MILAN, May 16 (Reuters) - The following factors could affect 
Italian markets on Friday. 
    Reuters has not verified the newspaper reports, and cannot 
vouch for their accuracy. New items are marked with (*). 
     
    BULGARI <BULG.MI> 
    Bulgari said net profit fell 4.6 percent in the first 
quarter due to higher costs and a sales slowdown, but the 
jeweller confirmed its outlook for the year as long as a tough 
economic climate does not worsen. 
    For a full story, double click on [nL15833385] 
     
    PARMALAT <PLT.MI> 
    The U.S. trial began in the dairy company's case against 
Citigroup <C.N>. 
    For a full story, double click on [nN15291317] 
     
    The company's shares fell sharply on Thursday on 
disappointment over its first-quarter results. 
     
    UNICREDIT <CRDI.MI> 
    Turkish bank Yapi Kredi, which UniCredit controls with Koc 
Holding <KCHOL.IS>, said it would launch a 920 million Turkish 
lira ($736 million) capital increase. 
    For more, double click on [YKBNK.IS-LEN-RTRS] 
     
    INTESA SANPAOLO <ISP.MI> 
    The bank said on Thursday it had launched a 1 billion euros 
subordinated Lower tier 2 eurobond targeted to international 
markets. 
    For a story, double click on [nMAT008210] 
     
    TERNA <TRN.MI> 
    Moody's downgraded Terna to "A1" and cut its long-term 
unsecured issue and debt ratings to "AA3" from "A1" 
    For more details, double click on [nWNA0963] 
     
    ITALCEMENTI <ITAI.MI> 
    Moody's changed the outlook on Italcement's "BAA1" rating to 
"negative". 
    For more details, double click on [nWNA0959] 
     
    CREDITO EMILIANO <EMBI.MI> 
    The bank said it wanted to raise up to 500 million euros in 
a maximum five years through offering options and would seek 
shareholders' approval. 
     
    BANCO POPOLARE <BAPO.MI> 
    The bank turned in a 9.1 percent fall in net profit to 260 
million euros for the first quarter. 
    For a full story, double click on [nMAT008208] 
     
    GAS PLUS <GSP.MI> 
    Italy's fourth-biggest gas company said it had suspended gas 
supply talks with Russia's Gazprom <GAZP.MM> but is still 
evaluating a deal. 
    For a full story, double click on [nL1584093] 
     
    SORIN <SORN.MI> 
    The medical devices maker said in a statement late on 
Thursday it had obtained approval to market the CRT model of its 
OVATIO^OM family from the U.S. Food and Drugs Administration. 
The device is to allow physicians to treat heart failure 
patients. 
     
 ((Milan newsroom, +39 02 6612 9507, fax +39 02 801149, 
milan.newsroom@news.reuters.com)) 
     
    For Italian market data and news, click on codes in 
brackets: 
    20 biggest gainers (in percentage)............<.PG.MI> 
    20 biggest losers (in percentage).............<.PL.MI> 
    Mibtel index.......... <.MIBTEL> 
    S&P/Mib index......... <.SPMIB> 
    Indice Mib-30......... <.MIB30> 
    Midex index........... <.MIDEX> 
    Allstars index........ <.ALLST> 
    Block trades.......... <.BLK.MI> 
    Stories on Italy...... <IT-LEN> 
     
    For pan-European market data and news, click on codes in 
 brackets: 
    European Equities speed guide...................<EUR/EQUITY> 
    FTSEurofirst 300 index..............................<.FTEU3> 
    DJ STOXX index......................................<.STOXX> 
    Top 10 STOXX sectors...........................<.PGL.STOXXS> 
    Top 10 EUROSTOXX sectors......................<.PGL.STOXXES> 
    Top 10 Eurofirst 300 sectors...................<.PGL.FTEU3S> 
    Top 25 European pct gainers.......................<.PG.PEUR> 
    Top 25 European pct losers........................<.PL.PEUR> 
     
    Main stock markets: 
    Dow Jones...............<.DJI>  Wall Street report .....[.N] 
    Nikkei 225.............<.N225>  Tokyo report............[.T] 
    FTSE 100...............<.FTSE>  London report...........[.L] 
    Xetra DAX.............<.GDAXI>  Frankfurt market stories[.F] 
    CAC-40.................<.FCHI>  Paris market stories...[.PA] 
    World Indices.....................................<0#.INDEX> 
    Reuters survey of world bourse outlook.........<EQUITYPOLL1> 
    Western European IPO diary..........................<WEUIPO> 
    European Asset Allocation........................[EUR/ASSET] 
    Reuters News at a Glance: Equities...............[TOP/EQE] 
    Main currency report:...............................[FRX/] 
 ($1=1.250 Turkish Lira) 
  Keywords: ITALY MARKETS/FACTORS 
    
  

PRESS DIGEST - Thai newspapers on May 16

Reuters: [2008-05-16 03:41:00]

BANGKOK, May 16 (Reuters) - These are some of the leading stories in Thai newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

TOP STORIES

- The Assets Scrutiny Committee has finally broken with the Office of the Attorney-General by deciding to seek the indictment of suspects in the allegedly illegal four-billion-baht loan to Burma by the Export-Import Bank of Thailand (BANGKOK POST)

- Prime Minister Samak Sundaravej said an imminent Cabinet reshuffle would affect no more than three positions (THE NATION)

- The opposition grilled Foreign Minister Noppadon Pattama over whether the government had made a deal with Phnom Penh on overlapping territories in order to resolve the Preah Vihear temple dispute (THE NATION)

- Thailand has seen its ranking improve significantly from last year's 33rd slot to 27th, according to the World Competitiveness Yearbook 2008 (THE NATION)

BUSINESS

- Consumer confidence fell for the first time in six months in April due to surging oil prices and related increases in the cost of living (BANGKOK POST)

- Investors in Saudi Arabia, one of the world's top rice buyers, are looking for joint ventures with Thai partners to invest in rice farming in Thailand and Africa (BANGKOK POST)

- Accor, Europe's biggest hotelier, aims to launch a new hotel brand, MGallery, in Thailand this year as part of its plan to add 12 hotels in the kingdom by 2010 (BANGKOK POST)

- Improved risk-management practices, higher profitability and rapid selection of a new chief executive are the main priorities for ING Group <ING.AS> for TMB Bank <TMB.BK> (BANGKOK POST)

- Thai Beverage <TBEV.SI> is making its first inroads into the local stock market with the Bt3 billion purchase of a 43.9-per-cent stake in listed Oishi Group <OISH.BK> (THE NATION)

- Securities analysts are maintaining "buy" recommendations on agriculture-related stocks in anticipation that their solid earnings will continue in the second quarter (THE NATION)

- Already taking thinner pay-cheques home, consumers might soon face bigger insurance bills as insurance companies plan to pass on their costs as a way to cope with rampant inflation (THE NATION) ** Looking for more information from local sources? Factiva.com has eight Thai sources including the Bangkok Post and The Nation.

((Bangkok Newsroom 662-647-9728,

e-mail: bangkok.newsroom@reuters.com) Keywords: THAILAND PRESS